Syndicated Equities completed the acquisition of McGovern House, a luxury, Class A, 73-unit midrise apartment building in Highland Park, Illinois. Syndicated Equities structured the acquisition to accommodate investors completing tax-deferred 1031 exchanges along with accredited cash investors.
The property consists of 73 units and is situated on 1.03 acres at the intersection of Central Avenue and McGovern Street in Highland Park, IL. Highland Park is an established community known for its lively downtown, beautiful parks, proximity to Lake Michigan, and countless restaurants and retailers. The submarket is considered one of the most sough-after markets for families as well as businesses given its proximity to downtown Chicago. Village Green will manage the property.